قالب وردپرس درنا توس
Home / Business / Jaguar Land Rover posts £ 3,4bn losses that China requires tie

Jaguar Land Rover posts £ 3,4bn losses that China requires tie



  Rankings - Land Rover is shown to the press members in front of the 97th Brussels Motor Show at Brussels Expo Center in Brussels, Belgium January 19, 2019. Image copyright
Getty Images

Jaguar Land Rover had a loss in the last three months of 201

8 when the sale collapsed in China.

The company ordered a reduction of $ 3.1 billion in the value of its factories and other investments that led to a quarterly point of $ 3.4 billion, the largest to date

Carmakers is hit by stronger regulations and demand for cleaner models.

Sales for the quarter were £ 6.2 billion, down from £ 6.3 billion the year before. It sold 144,602 cars, down from 154,447.

Jaguar chief Ralf Speth said, "Jaguar Land Rover reported strong sales in the third quarter in the UK and North America, but our overall performance was still affected by challenging market conditions in China. . "

Excluding the write-down, which affects the balance sheet, but which has no effect on cash, the company has reported a loss of NOK 273 million.

A large part of the company's model selection is currently the diesel-powered, while diesel sales in Europe have fallen.

Jaguar Land Rover, owned by India's Tata Motors, has launched a comprehensive restructuring program to prepare for the future and increase profitability.

Plans have already been announced to cut thousands of jobs.

It is now accepted that the value of their existing investments – such as factories, equipment and models – is significantly lower than previously assumed, said BBC correspondent Theo Leggett .


Source link